**GLOBAL MARKET BRIEF: JANUARY 30, 2026** **Executive Summary** Global equities are closing January on a mixed footing as volatility in the technology sector and a cautious Federal Reserve weigh on sentiment. While the **Dow Jones Industrial Average** managed to edge higher, broader indices and crypto markets faced significant selling pressure. Investors are digesting a diverge in Big Tech earnings, with "AI jitter" driving sharp rotation out of software stocks. **Equities & Sector Performance** **US Markets** The **S&P 500** slipped to **6,969.01** (down **0.13%**), struggling to maintain momentum after touching recent highs. The tech-heavy **Nasdaq Composite** saw sharper declines, falling **0.72%** to **23,685.12**, dragged down by a sell-off in enterprise software. Conversely, the **Dow Jones** outperformed, rising **0.11%** to **49,071.56**, buoyed by strength in industrial and defensive names. **Big Tech Divergence** Earnings season has exposed a rift in the technology sector. **Microsoft** shares plummeted **~10%**—their worst day in years—following reports of slowing cloud growth. Similarly, **SAP** dropped **15%** on disappointing forecasts, fueling concerns over AI disruption risks. In contrast, **Meta Platforms** surged **9%**, signaling that investor demand remains robust for companies showing immediate returns on AI capital expenditure. **Global Indices** Asian and European markets mirrored the cautious tone. Japan's **Nikkei 225** dipped **0.22%**, while Hong Kong’s **Hang Seng** faced heavier selling, down **1.78%** amid consolidation. In India, the **Sensex** dropped over **500 points** in early trade, tracking weak global cues and foreign outflows. **Cryptocurrency: Sharp Correction** The crypto market faced a sudden liquidation event. **Bitcoin (BTC)** broke below the critical **$85,000** support level, trading around **$82,448** (down **6.2%**). The decline triggered a broader sell-off, with **Ethereum** and **Solana** posting losses exceeding **6%**. Market breadth is weak, with over **$785 million** in derivative positions liquidated in 24 hours, signaling a temporary "risk-off" shift among digital asset traders. **Commodities & Treasury Yields** **Precious Metals** After a relentless rally, **Gold** prices cooled significantly, retreating **4%** from recent all-time highs. Profit-taking has set in as traders reassess the safe-haven premium following the Fed's latest pause. Silver also saw a steep decline, dropping over **6%**. **Energy** Crude prices remain soft. **WTI Crude** is trading near **$59.06** per barrel, while **Brent Crude** hovers around **$65.59**. Demand concerns continue to cap gains despite geopolitical tensions. **Fixed Income** The Federal Reserve voted to keep interest rates unchanged on January 28, matching market expectations. The **US 10-Year Treasury Yield** held steady at **4.27%**, reflecting a market that is pricing in "higher for longer" rates amid resilient economic data. **Key Economic Watchlist** * **Federal Reserve Policy:** The central bank maintains a neutral stance, awaiting further inflation data before considering cuts. * **Earnings Continuation:** Focus shifts to upcoming reports from **Amazon** and **Apple** to gauge if consumer spending can offset enterprise tech weakness. * **Geopolitics:** Ongoing trade friction and regional instability remain key tail risks for energy and supply chains.